Situated on one of the busiest roads of the city at Kempe Gowda
Circle, Mini St ores
has an amazing collection of old coins and currency from both
India and foreign countries. Here old and cut notes are bought
and sold for a 'nominal commission'. This is where most numismatists
of Bangalore come looking for a rare coin to add to their collection.
For the proprietor of Mini Stores, Kirthy M
Parekh, coin collection is both business as well as a favourite
hobby. He is also the current Treasurer of the Karnataka Numismatic
Society. In an interview to bangalorebest.com, Parekh shared
interesting information on the hobby of coin collection.
How did you get into this business?
My father, M L Parekh founded this shop. For many, coin collection
begins as a hobby first and then it may turn into a business.
But in my case it was the reverse. First, I took up coin collection
as a business and now it is an interesting bobby as well.
How many dealers are there in Bangalore like you?
There is no other full-fledged shop in Bangalore dealing with
all kinds of coins like us. We buy and sell old and new coins.
But we mainly buy old and damaged currency for a nominal (commission)
margin.
Where do you source these old coins?
We buy them from the people who bring them to us. R iver
beds are the main source for old coins. In India, there was
and still is a tradition of presenting coins to rivers and water
bodies while taking a holy dip in them. People dwelling on the
banks of rivers in South India dig into the river beds and extract
these old coins when the rivers dry up during summer.
How many countries' coins are available with you?
The coins of 180 countries and old currencies of 150 countries
are available in our shop.
Is there any numismatic club or association in the State?
Yes.  The
Karnataka Numismatic Society (Kannada Nadu Nanya Sangha) is
actively functioning in Bangalore. Every state in India has
similar numismatic societies.
How popular is the hobby of coin collecting?
Coin collection is a very popular hobby. It is not just a hobby
but also an investment. The cost of old and rare coins constantly
increases with time. For example, the cost of a Rs 1 silver
coin (with Queen Victoria's emblem minted during 1840s) of East
India Company was about Rs 70 in 1995. Now the same coin costs
Rs 130.
At what rates do you buy old coins?
I cannot say. It depends on how ancient the coin is. The cost
of such coins can go up to thousands of rupees.
How do you preserve old coins?
We preserve all old coins in folders. Separate coin folders
with transparency are available for the purpose.
How can a beginner start the hobby of coin collection?
A beginner can start collecting coins from his own pocket. (Parekh
took out some 25, 50 paisa and one rupee coins and showed them
under the microscope). Now, only steel is being used to mint
Rs 1, 50 and 25 paise coins. Previously, nickel was used to
mint Indian coins. Now nickel has become costly, hence steel
is being used. So, beginners can start collecting the nickel
coins. Slowly they can start collecting one anna, half anna
and other such Indian coins. Then, if their pockets permit,
they can collect old silver and gold coins.
Have you had any exhibition of coins to date?
 So
far I have not exhibited my coins since I have the exhibition
of coins and currency in my shop. But an RBI sponsored numismatic
exhibition is to be held at Canara Bank near Town Hall in February.
I am planning to participate in that exhibition.
Parekh has been given an award by the Karnataka Numismatic
Society for his outstanding performance as an office bearer.
According to him, buying coins belonging to Tippu's or the Mysore
King's era, British Indian coins and paper money is a wise investment.
These coins and currency will have high appreciation in future,
he says.
Commemorative Coins: The Government of India has been issuing
yearly 'commemorative coins' since 1969 on Indian statesmen
in the denominations of Rs 2, Rs 5, Rs 10, Rs 50 and Rs 100.
All these are available with the Mini Stores. The store also
sells all types of coin albums and stationary related to coins
and bank notes.
Truly, old is gold!
Address:
Mini Stores, #9, Tallam Complex,
K.G. Circle, Bangalore- 560009.
Phone: 2287 3468,2228 4827
Fax: 22259843
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8:25:04 AM 
